CHINA-ECONOMY: GUANGDONG PROVINCE CLAIMS TO HAVE ELIMINATED 'HIDDEN' LOCAL GOVERNMENT DEBT
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Caixin (January 22) reported that the Acting Governor of Guangdong, Wang Weizhong, while delivering
the annual government work report to the province’s legislature on January 20, announced that the province
was the first to eliminate hidden local government debt as the country approaches the halfway mark in a
campaign to clean up trillions of yuan of risky liabilities piled up off the books. Wang Weizhong did not
specify the scale of the liabilities brought back onto the books
(Comment: A pilot program to achieve “zero hidden (government) debt” was earlier announced in October.)
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